Final answer:
CPAs audit financial statements for accuracy and compliance; GAO auditors oversee federal spending and report to Congress; IRS agents audit for tax compliance and enforcement; internal auditors focus on an organization's risk management and operational efficiency.
Step-by-step explanation:
The major differences in scope and audit responsibilities of CPAs, GAO auditors, IRS agents, and internal auditors are based on the functions they serve and the entities they audit. CPAs, or Certified Public Accountants, are professionals who may conduct audits on private companies, publicly traded companies, and non-profits. They are tasked with ensuring that financial statements are accurate and comply with regulatory standards.
GAO auditors work for the Government Accountability Office, which is a congressional agency. Their main job is to perform audits, evaluations, and investigations to ensure the federal government spends taxpayer dollars efficiently and appropriately. They report their findings mostly at the request of Congress, focusing on issues from various domains such as education and defense.
IRS agents are concerned with federal taxes and ensuring compliance with tax laws. They may conduct audits to see if taxpayers are meeting their tax obligations and identify any potential tax gaps, mainly focusing on revenue collection and tax law enforcement.
Internal auditors are employed by organizations to conduct audits internally. They work towards improving an organization's operations by evaluating the effectiveness of risk management, control, and governance processes. Unlike CPAs who audit for external stakeholders, internal auditors aim at providing management with the information they need to make knowledgeable decisions.